Market Overview

The Latin America video game development market reached a size of USD 107.36 Million in 2024 and is projected to grow to USD 425.14 Million by 2033. The market is expected to expand at a CAGR of 15.25% during the forecast period of 2025-2033. Growth is driven by increasing smartphone and internet penetration, investments by international companies, expanding e-sports and mobile gaming sectors, supportive government policies, and a strengthening local talent pool. The development of culturally diverse content by local studios also boosts demand regionally and globally.

Study Assumption Years

• Base Year: 2024
• Historical Years: 2019-2024
• Forecast Period: 2025-2033

Latin America Video Game Development Market Key Takeaways

• The market size in 2024 was USD 107.36 Million, with a forecast CAGR of 15.25% from 2025 to 2033.
• Local studios in Mexico, Brazil, and Argentina are producing culturally relevant games reflecting local traditions and stories.
• Brazil leads with 13,225 developers and 1,042 active studios; Mexico and Argentina have over 4,000 and 4,500 developers respectively.
• The mobile services sector expanded with smartphone shipments increasing 15% to 137 million units in 2024.
• Google launched a USD 2 Million Indie Games Fund in August 2024 to support independent developers across the region.
• Government incentives such as grants and tax breaks are accelerating market growth.

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Market Growth Factors

The growth of the Latin America video game development market is prominently driven by the increasing penetration of smartphones and the internet throughout the region. In 2024, smartphone shipments rose by 15% reaching 137 million units, while mobile internet penetration peaked at 112% in South America, fueled by multi-SIM users. Central America and Mexico attained 103% penetration, and the Caribbean averaged 84%. This surge in digital connectivity expands the user base, encouraging developers to create mobile-first, engaging, and accessible games tailored to regional preferences.

Another significant driver is the influx of investments and capital in the region’s gaming industry. Global stakeholders have increased partnerships and acquisitions of Latin American studios, particularly in Brazil, Argentina, and Mexico. Brazil leads with 13,225 developers and 1,042 studios, while Mexico and Argentina boast over 4,000 and 4,500 developers respectively. Government-backed incentives including grants, training programs, and tax benefits further stimulate growth, enabling local developers to scale operations, adopt advanced technology, and attract specialized talent.

Cultural identity and creativity are uniquely shaping the market as local studios develop games that highlight indigenous stories, traditions, and cultural values. These titles resonate locally and gain global recognition, bolstered by initiatives such as Google’s USD 2 Million Indie Games Fund launched in August 2024. The fund supports independent and smaller studios by providing financial assistance and mentorship, fostering innovation and authentic storytelling that enrich the regional gaming ecosystem.

Market Segmentation

Platform Insights: Includes console, mobile, PC, and cloud gaming platforms, reflecting diverse delivery methods for game content tailored to different user preferences.

Genre Insights: Covers a variety of game genres such as action, adventure, shooter, role-playing, simulation, strategy, sports, casual, and others, highlighting the broad appeal and variety within game development.

Deployment Insights: Segments the market into on-premises and cloud-based deployment, showing how games are hosted and accessed by users.

Revenue Model Insights: Encompasses pay-to-play, free-to-play, subscriptions, and in-app purchases, illustrating different monetization strategies in the market.

Game Type Insights: Differentiates single-player, multi-player, and massively multiplayer online (MMO) games, representing various modes of gameplay.

End User Insights: Divides the market between individual and institutional users, specifying the target consumer bases for video game developers.

Country Insights: Analyzes key national markets including Brazil, Mexico, Argentina, Colombia, Chile, Peru, and others, detailing regional market dynamics within Latin America.

Regional Insights

Brazil is the dominant market in Latin America, hosting 13,225 developers and 1,042 active studios, making it the largest game development hub in the region. Mexico and Argentina follow with over 4,000 and 4,500 developers, respectively. This regional concentration, combined with rising government incentives and global investment, drives rapid market expansion with a CAGR forecast of 15.25% through 2033, positioning Latin America as a key player in global game development.

Recent Developments & News

In March 2025, Xsolla launched the Journey of Indies (JOIN) Program in Latin America, based in Brasília, providing commercialization tools, education, mentorship, and funding to indie and mid-tier developers. In February 2025, gamescom latam 2025 partnered with The Pokémon Company for the franchise’s first appearance, featuring exclusive AR missions and merchandise. In August 2024, Amber acquired Colombia-based studio Madbricks to expand its Latin American presence. In June 2024, OV Entertainment Group acquired Brazil’s Kokku and Argentina’s 3OGS to consolidate resources and growth opportunities in the region.

Key Players

• Xsolla
• The Pokémon Company
• Amber
• OV Entertainment Group
• Kokku
• 3OGS
• Madbricks

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